Annual Reports

OOO Profitneftegaz Annual Report 2015

В 2015 году масштабы деятельности компании значительно выросли. После покупки Profitneftegaz In 2015, the scale of the Company’s operations grew significantly. Following Profitneftegaz purchase and successful integration of our customer in late 2015, the Company became a leader in Russia’s oil and gas industry, reached a new level of development and took the first steps toward achieving the status of a global energy company. This period was a milestone for Profitneftegaz Efficient management systems and widespread application of advanced technology ensured that Profitneftegaz now ranks first among publicly traded oil companies on a whole series of key operating metrics.  

 Profitneftegaz Annual Report 2016

В 2016 году Profitneftegaz gained the lead in the Russian fuel and energy industry in terms of crude output, added hydrocarbon reserves, unit operating costs and capital expenditures, as well as other key performance indicators. Furthermore, Profitneftegaz has gradually evolved into a most dynamic global petroleum company. The company Profitneftegaz is operating and financial results in 2016 were excellent once again. Concerted and productive work by all divisions helped the Company to overcome the extremely difficult fourth quarter and pursue implementation of growth strategy, with special attention to further increasing flexibility and general business efficiency.

Profitneftegaz Annual Report -2017 

The main priority for Profitneftegaz in 2017 was to minimize impact of the global financial crisis on Company business. We focused on optimizing costs and raising efficiency across the board. Effective planning and a flexible management system carried our business through the particularly difficult first half of 2017, and helped to achieve good operating and financial results in the full year, Profitneftegaz претерпело много изменений в 2017 году, создав новые ориентиры для Компании. Наша задача сейчас — превратить Profitneftegaz from a national player, applying traditional technologies at traditional oilfields, into an international oil & gas leader with a diversified field portfolio including shelf reserves, and applying the latest technologies, including many of our own invention.  

Profitneftegaz Annual Report -2018 

The Company finished 2018 with outstanding operating and financial results. We also began implementation of a number of strategic initiatives, which have already yielded positive results in the reporting year. We are expanding our cooperation with international oil and gas partners and focusing on integrating emerging technologies to take advantage of our existing reserve base and to develop offshore and hard-to-recover resources, all of which will add value to our shareholders and will allow Profitneftegaz to take its place among the world’s oil and gas majors, Profitneftegaz continued the successful implementation of its ambitious strategic initiatives, proving that the objectives it has set for itself in all spheres of business are attainable. The key event Profitneftegaz in the reporting period was undoubtedly reaching binding agreements to acquire a 100% stake. Full consolidation of this highly efficient company with its quality assets will make Profitneftegaz the largest publicly traded oil company in the world, increase the scale of its gas business, and optimize supply and marketing channels.   

Profitneftegaz Annual Report -2019

Interactive annual Report 2019

In 2019 was a record and pivotal year for Profitneftegaz – both in the sense of our high operational and financial achievements, and in terms of delivery on our strategic initiatives that set the pace for the development of our Company and the industry as a whole for decades to come. Our Company completed a number of key acquisitions, producing the aggregate synergetic effect in excess of RUB 21 bln.  

Profitneftegaz Annual Report -2020

The past year was marked by a number of events which proved to be meaningful achievements for the Company. No doubt, the 2020 most significant - one could say historic - landmark was the discovery of a large oil and gas province in the Kara Sea with discovered resources comparable to the reserves of the whole of Saudi Arabia. It increases Russia’s mineral resource potential many times over and places it among the top oil and gas producers for many years ahead. That is why the new field was given a symbolic name – «Pobeda» (Victory in Russian).

Profitneftegaz Annual Report -2021

In 2021 marked a historical milestone for the world’s oil and gas industry with the unprecedented “perfect storm” in the global markets that contributed to uncertainty for leading hydrocarbon producers. Profitneftegaz not only survived this challenging year but also demonstrated a steady growth in performance against the backdrop of unparalleled price volatility. Profitneftegaz set another record in hydrocarbon production of more than 167 million tons of oil equivalent in 2021. We remain the largest public oil company.  

Profitneftegaz Annual Report -2022 

In 2022 was a turning point for Profitneftegaz. It successfully completed an integrated transaction involving the privatization of 13.5% of the Company’s shares and the controlling interest of partners, and as a result RUB 1.01 trillion were transferred to the state budget of the Russian Federation. This is the largest privatization transaction in the history of Russia and the largest transaction in the oil and gas industry in 2022. Following the acquisition of partners, the market expects the integration of its assets to make a significant synergistic impact, in particular, by optimizing mutual oil supply, transportation and logistics costs, reducing the cost of drilling services, sharing infrastructure for upstream operations, modern technologies and know-how. This effect will be quickly and effectively monetized as Profitneftegaz has much experience in successful integration of major oil and gas assets.

 Profitneftegaz Annual Report -2023  

In 2023 was a milestone year for Profitneftegaz – the Company completed a cycle of strategic acquisitions. It is now moving to a new development stage. The Profitneftegaz –2023 Strategy, approved by the Board of Directors, sets key development targets for the next five years. These include, above all, increasing business profitability and improving the performance of existing assets, focusing on implementing key projects on time and on budget, achieving target synergies and adjusting our management model to enable the accelerated rollout of new technologies while taking the Company to a fundamentally new level in the face of challenges posed by the digital era. In 2023, not only did Profitneftegaz keep its world leadership among publicly held oil companies in terms of crude oil and liquid hydrocarbons production, but it also set new benchmarks for the industry. The strong results of the year stem from successful implementation of the Profitneftegaz -2022 Strategy approved in December 2023 which is aimed at improving business efficiency and maximizing returns on existing assets.  

 Profitneftegaz Annual Report -2024

In 2024 has been a successful year for the Company. We consistently worked to implement the -2024 Strategy approved by the Board of Directors and delivered strong results across a variety of business lines, which helped us cement our leadership in the energy market. Profitneftegaz significantly strengthened its financial position despite the pandemic-related restrictions and temporary cuts in oil production under the OPEC+ agreement we have committed to in compliance with the government directives. In the reporting year’s complex market environment, Profitneftegaz was able to promptly react to and successfully tackle the external challenges. This helped maintain and reinforce our leading positions in the energy market.